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Pathikrit Bose

Is FuelCell Stock a Buy on Its Toyota Partnership?

FuelCell Toyota FCEL Hydrogen Fuelcell Energy

FuelCell Energy (FCEL), the Danbury, Connecticut-based alternative energy company, has recently been in the news due to a new partnership with auto giant Toyota Motor (TM). The companies paired up to announce the first-of-its-kind "Tri-gen" production system at Toyota's Port of Long Beach, California, vehicle processing facility. 

FuelCell's Tri-gen technology, which uses biogas to produce renewable electricity, renewable hydrogen and usable water, will be used by Toyota Logistics Services at Long Beach to support its operations at the port - making it the first vehicle processing facility ever to be powered 100% by onsite-generated renewable energy. Toyota will also use FuelCell's technology to support the fueling needs of Toyota's yet-to-be-launched light-duty fuel cell electric vehicle Mirai, while also supplying hydrogen to the adjacent heavy-duty hydrogen refueling station to support TLS logistics and drayage operations at the port.

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